Metro Bank rejected Hidden Shawbrook takeover bids

Creative Media NewsMonday, 9 October 2023, 0:000

Bondholders and Metro Bank’s board will meet on Saturday to discuss a financing package, possibly disclosed before Monday’s stock market opening. Last month, Metro Bank’s board rejected a rival British lender’s secret merger approach, lowering its stock price as it sought millions to strengthen its finances. Shawbrook has presented multiple bid proposals to Bank, including...

Increased US job growth spurs rate hike hopes

Creative Media NewsSunday, 8 October 2023, 4:000

Last month’s unexpected increase in the number of positions in the United States fueled anticipations that interest rates might increase further. According to Labour Department figures, employers produced 336,000 new jobs in September, substantially twice the 170,000 expected. In addition, August data was revised upwards to reflect the creation of 227,000 employment, as opposed to...

First annual earnings since epidemic for Wetherspoons

Creative Media NewsSunday, 8 October 2023, 2:000

According to the chain, its trading momentum has persisted from the conclusion of its fiscal year until July. The revenue increase was primarily attributable to food sales, whereas pub sales increased by 9%. A reduction in expenses and an increase in sales have been attributed by JD Wetherspoon with its first annual profit since the...

EV owners’ repair claims rise 370% in three years.

Creative Media NewsSaturday, 7 October 2023, 12:000

In the past three years, repair claims from electric vehicle owners have surged by 371%, as per data from specialized warranty firm MotorEasy. MotorEasy, in its statement, suggests that this growth results from an increase in the number of EVs covered by their warranties, and it reflects an aging EV fleet where issues are emerging....

Metro Bank shares fall on fund-raising reports

Creative Media NewsFriday, 6 October 2023, 22:000

Metro Bank seeks funding, shares plunge.Options to bolster balance sheet.Facing challenges amid losses. Metro Bank’s stock plunged after reports surfaced that the bank is seeking to raise millions to bolster its finances. Approximately one-third of the bank’s shares saw a decline following newspaper reports suggesting it requires up to £600 million in funding. On Thursday,...

After fraud, WANdisco rebrands as ‘new start’ software firm

Creative Media NewsThursday, 5 October 2023, 20:000

WANdisco has rebranded as Cirata to put an end to a turbulent year marked by a fraud investigation and the termination of 30 percent of its workforce. The company expects to begin trading under its new name on the London Stock Exchange on Thursday, after shareholders overwhelmingly approved the transition at its annual general meeting...

Google launches £699 Pixel 8, £999 Pixel 8 Pro with 50MP camera and thermometer.

Creative Media NewsWednesday, 4 October 2023, 23:000

The eagerly awaited Pixel 8 smartphone lineup has finally been unveiled, much to the joy of Google enthusiasts. The tech giant has introduced two new smartphones: the Pixel 8 and Pixel 8 Pro. The flagship devices feature a 50MP primary camera, an integrated thermometer, and a new ‘Best Take’ application. The Pixel 8 is priced...

As Tesco earnings rise, CEO thinks food inflation will reduce.

Creative Media NewsWednesday, 4 October 2023, 12:000

Inflation subsided in the first half, and Tesco executives expect further cost pressure reductions ahead. The supermarket chain, with £34 billion in sales in the six months ending 26 August, announced plans to “continue lowering prices whenever possible.” Tesco raised its annual profit forecast as consumers bought more from the Finest range and the company...

Water companies want higher rates to reduce leakage and spills.

Creative Media NewsWednesday, 4 October 2023, 2:000

Water companies in England and Wales seek to raise bills by £156 per year by 2030 to fund improvements and reduce sewage discharges. The increase would support nearly doubling infrastructure spending to £96 billion, according to the water industry. The proposals come despite public outrage over sewage discharges and cost-of-living pressures. Critics argue that water...

Dame Sharon White exits John Lewis in 2025.

Creative Media NewsTuesday, 3 October 2023, 22:000

The emergence of new obstacles in the company’s bid to return to sustainable profitability led to Dame Sharon White’s decision not to pursue a second term. The Chairman of the John Lewis Partnership will leave the company in 2025, shortly after the company warned of a two-year extension to its turnaround plan. Dame Sharon White...

“Redwood, a challenger bank, goes public with R8 tie-up.”

Creative Media NewsTuesday, 3 October 2023, 8:000

Following co-founder Jonathan Rowland’s reverse takeover of R8 Capital Investments, Redwood Bank is set to be listed on the London Stock Exchange. Jonathan Rowland, a prominent financier and co-founder of the challenger bank six years ago, is orchestrating a merger between Redwood Bank, a business lender, and R8 Capital Investments, a family-owned business. Redwood Bank...

London Stock Exchange gains from Korean firm floating

Creative Media NewsTuesday, 3 October 2023, 2:000

The London Stock Exchange (LSE) appears close to securing a series of listings from South Korea, as per information obtained by The Mail on Sunday. Three companies, including a semiconductor manufacturer and a rapidly expanding poultry restaurant chain, are expected to join the LSE by next summer, with more likely to follow. These plans stem...

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